What should payment operators prepare for PSD3 and the PSR?

Strong authentication rules, fraud data sharing, refund obligations and transparency on fees will apply to their merchants' payments. Scheme Ready tracks scheme and regulatory changes, and platform operations and security settings cover access, authentication and audit trails.

What changes

PSD3 and the Payment Services Regulation update the European rules for payment services. The headlines for operators: stronger customer authentication rules with more exemptions, mandatory fraud data sharing between providers, liability shifts for authorized push payment fraud, and more transparency on fees and currency conversion. Final adoption was still pending in late 2026, with application expected around 2027.

The preparation list

• Authentication: make sure every checkout flow can apply or exempt strong customer authentication per the new rules.
• Fraud data: be able to share and receive fraud signals with other providers, in a format the schemes accept.
• Refunds: track dispute and refund obligations per transaction, since issuers will recover more from acquirers.
• Transparency: show fees and conversion rates on statements and receipts.
• Access: log who did what on the platform, with audit trails that regulators can read.

How a platform helps

Most of this lands in platform settings, not in merchant code. Scheme and regulatory changes tracked centrally, authentication handled in the hosted checkout, and audit trails kept by default mean operators update once for all merchants, rather than asking each merchant to change.